Friday, December 15, 2017
Business

New apartments, retail coming to World Liquors corner on Central Avenue

ST. PETERSBURG — The iconic World Liquors sign that has marked the corner of Central Avenue and 16th Street for 53 years is coming down to make way for a new retail and residential development. World Plaza Shoppes will have 13,000 square feet of retail at street level and 14 loft apartments above.

World Liquors owner Paul Misiewicz and Pennsylvania-based DEPG Development Associates are partnering on the $5 million project. A newly constructed World Liquors will be the anchor tenant, taking up 3,000 square feet, about three times the size of the current store.

Construction is slated to start in early 2015 and be completed within about a year.

"Now the city of St. Petersburg is really expanding. New commercial space is being leased fairly easily, as you can tell by what's happening on Fourth Street," Misiewicz said.

He planned a smaller development of his own in 2009, but held off when the recession hit. Then last year, when his Keller Williams real estate agent met a Pennsylvania developer looking for Florida opportunities at a shopping center convention in Orlando, the timing was right.

"What we like about (the location) is it's going to be at the cutting edge. And others, including ourselves, will jump on the bandwagon as development continues spreading in a westward direction," said Jim DePetris, head of DEPG Development Associates.

Keller Williams agent Jean Kabore recalled the meeting with DePetris in Orlando. "Some of his investor friends had been telling him about how the Tampa-St. Pete area was growing so fast and he should take a look at the market," Kabore said.

DEPG, which includes four DePetris brothers, is a leading retail developer around the Pocono Mountains in northwestern Pennsylvania. "All the new things happening in St. Petersburg — the changes, the young people moving in and new restaurants — it's all very exciting," DePetris said.

While food and retail are thriving on Central Avenue, it's not considered a residential hub yet. Misiewicz points to the success of Fusion 1560 across the street. Its 253 apartments are 95 percent occupied, according to a leasing agent. Rents range from $955 to $1,850. Rental rates for the World Plaza apartments aren't set yet but will be in that range or lower.

The new World Liquors store will enable Misiewicz to grow the business his uncle started in 1956. Misiewicz has worked there 41 years.

"I'll have an expanded selection, better pricing, a very large section of craft beer. I'll be able to fill growlers," he said.

As for the store's signature sign, it is grandfathered in right now. But once it's moved and the building is razed, it won't be allowed under the city's sign code any more.

The American Sign Museum in Cincinnati has expressed interest in it in recent years but hasn't made a move to buy it. Misiewicz said he hasn't set a price but thinks the cost of moving the 30-foot-high globe would be much more than the sign itself. He's also not sure it will stay intact once it's taken down.

A smaller sign will be made for the new World Liquors.

Katherine Snow Smith can be contacted at [email protected] Follow @snowsmith.

     
Comments
Pack your bags: 107.3M Americans to set holiday traveling record

Pack your bags: 107.3M Americans to set holiday traveling record

A record-breaking number of Americans are expected to travel this holiday season.The American Automobile Association projects that 107.3 million Americans will pack their bags and travel more than 50 miles by planes, trains, automobiles and other mod...
Updated: 4 hours ago
Local widowers say baby powder caused their wives’ cancer

Local widowers say baby powder caused their wives’ cancer

Two Tampa area widowers whose wives died of ovarian cancer are suing Johnson & Johnson, joining nearly 5,000 other plaintiffs across the country who blame their illness on the daily use of the pharmaceutical company’s talcum powder.Bryan Isa’s wife, ...
Updated: 7 hours ago
Jabil’s fiscal results top Wall Street expectations

Jabil’s fiscal results top Wall Street expectations

ST. PETERSBURG — Jabil Circuit Inc. beat Wall Street expectations for both profits and revenue Thursday.The St. Petersburg-based contract electronics manufacturer — one of Tampa Bay’s biggest public companies — posted fiscal first-quarter earnings of...
Updated: 8 hours ago
Soccer store opens on Gunn Highway, just in time for the World Cup

Soccer store opens on Gunn Highway, just in time for the World Cup

Even though the United States Men’s soccer team didn’t qualify for the 2018 FIFA World Cup, that hasn’t diminished local fans’ excitement about the upcoming international event.Ariel Martinez, owner of Best Buy Soccer and Lacrosse, has already receiv...
Updated: 9 hours ago
Tampa chamber names first companies for minority business accelerator

Tampa chamber names first companies for minority business accelerator

TAMPA — Four firms in marketing, construction and secure cash logistics will be the first to go to through a new Greater Tampa Chamber of Commerce program designed to help black- and Hispanic-owned companies grow their businesses through two years of...
Updated: 9 hours ago
FCC votes down Obama-era ‘net neutrality’ rules

FCC votes down Obama-era ‘net neutrality’ rules

NEW YORK — The Federal Communications Commission has voted on party lines to undo sweeping Obama-era "net neutrality" rules that guaranteed equal access to internet.The agency’s Democratic commissioners dissented in the 3-2 vote Thursday.The FCC’s ne...
Updated: 11 hours ago
From Crystal River to Brooksville, branch out to shop on these unexpected main streets

From Crystal River to Brooksville, branch out to shop on these unexpected main streets

You don’t have to stare at a greeting card to picture a bustling old main street lined with decorated shops and lampposts. Historic small-town shopping districts are easy to find, and more charming than Walmart. Beyond the downtowns of St. Pet...
Updated: 12 hours ago
American Social booming on Harbour Island

American Social booming on Harbour Island

HARBOUR ISLAND — Downtowners, conventioneers, hockey fans, concert-goers and anyone hungry for waterfront dining are discovering American Social Bar & Kitchen on Harbour Island. Panoramic views, accessible boat slips and walkability to Amalie Arena a...
Published: 12/14/17
A healthy dining option opens in Downtown Tampa

A healthy dining option opens in Downtown Tampa

SOUTH TAMPA— Vale Food Co., a health food restaurant, hopes to make its mark on the bay area foodie scene with the opening of its first location in Tampa.In 2014, Sunny Ilyas was a Florida State student trying to find an affordable, healthy meal for ...
Published: 12/14/17

Tampa Bay is above average in minority homeownership

Tampa Bay ranks 22nd among the nation’s 45 largest metro areas in the percentage of minority homeowners. According to Abodo, an online apartment marketplace, 46.2 percent of minorities in the bay area own their homes, which have an average value of $...
Published: 12/14/17